What Is Pi Network?

Pi Network is a mobile-first cryptocurrency designed to make participation in a blockchain network accessible to anyone with a smartphone. Users earn Pi by opening the official Pi mobile app once every 24 hours and tapping a button to confirm their continued participation. The project is one of the largest crypto user acquisition phenomena in history, claiming tens of millions of "Pioneers" who have onboarded since the testnet phase began in 2019.

Overview - Table of Contents
What Is Pi Network?
Getting Started With Pi Network
How To Get A Pi Network Wallet?
Pi Network Resources
How To Buy Pi Network?
Latest Pi Network News

Pi Network was founded by Stanford alumni Nicolas Kokkalis and Chengdiao Fan, with Vincent McPhillip joining as a third co-founder for the early phase. The project launched on Pi Day (March 14, 2019) with the explicit goal of making cryptocurrency mining more accessible than the energy-intensive proof-of-work systems used by Bitcoin and Ethereum. From the start, Pi was distributed via mobile devices in a way that was meant to feel approachable to people who had never used a wallet or exchange.

Under the hood, Pi Network uses a federated consensus model adapted from the Stellar Consensus Protocol (SCP). Validation is performed by a network of nodes that operate "security circles," small groups of trusted users that each Pioneer can configure. The architecture is intended to support both rewarding broad user participation and validating transactions through reliable nodes, with security relying on the overlapping trust structure of users and nodes rather than on raw computing power.

Pi Network ran for several years as an enclosed testnet, during which Pioneers earned Pi balances that were not transferable outside the network. The project's roadmap framed this period as necessary to build a large user base, KYC verify Pioneers, and roll out the Pi Browser, Pi Wallet, and an early ecosystem of apps. The "Open Mainnet" launched on February 20, 2025, after a long Enclosed Mainnet phase, finally allowing users to transact and connect Pi to external platforms.

The Pi token operates on the Pi blockchain. Users earn Pi at a rate that decreases over time as the network grows, with multipliers based on contributions such as running a node, participating in security circles, or referring other Pioneers. Total supply is capped at 100 billion Pi, with allocations to the community, the core team, the foundation, and ecosystem development. KYC is mandatory for transferring Pi out of the testnet ledger to mainnet, and the migration of balances has been a major operational focus since Open Mainnet launched.

The Pi Network ecosystem includes the Pi Browser (a mobile dApp browser used to access Pi-native applications), the Pi Wallet (a non-custodial wallet for managing mainnet Pi), and a developer platform that lets builders create apps that pay or charge in Pi. The launch of Open Mainnet brought a wave of new app deployments and listings on a number of cryptocurrency exchanges, although several major exchanges have either delayed support or chosen not to list Pi pending more clarity on tokenomics and KYC.

Pi Network is a polarizing project. Supporters see it as the broadest crypto onboarding effort to date, with a real working mainnet, KYC processes, a wallet, and a growing app ecosystem. Critics point to its long testnet period, multi-level referral structure, ad-driven monetization in the app, and concerns about the centralization of supply during the testnet phase. Some commentators have described the model as resembling pyramid-style distribution mechanics, while others highlight that the network's federated consensus and ecosystem development make it a real blockchain rather than a points scheme. Anyone considering Pi should evaluate the project carefully, follow official sources, and be cautious of impersonator accounts.

Getting Started With Pi Network

Joining Pi Network is mobile-first and free:

Step 1: Download the official Pi Network app from the Apple App Store or Google Play. Be careful to install the genuine app from "SocialChain", as imitations exist.
Step 2: Sign up using a phone number or Facebook account, optionally entering an existing Pioneer's invitation code.
Step 3: Tap the lightning bolt button once every 24 hours to mine Pi at the current rate.
Step 4: Complete KYC through the Pi app's verification flow so your earned Pi can be migrated to mainnet.
Step 5: Install the Pi Browser, set up the Pi Wallet, and explore Pi-native applications. Optionally run a Pi Node on a desktop computer for additional contribution.

The mining rate decreases over time as more users join and as the network advances through phases. Long-time Pioneers who joined early earn at higher rates than newer users.

How to Get a Pi Network Wallet?

Pi has its own dedicated wallet integrated with the Pi ecosystem, plus emerging support on a small number of third-party wallets:

Pi Wallet

The official Pi Wallet is a non-custodial wallet accessed through the Pi Browser. It is the primary way to hold mainnet Pi and to interact with Pi-native applications. Each user is given a passphrase during setup; this passphrase is the sole way to recover the wallet, so it must be backed up securely.

Pi Browser

The Pi Browser is the mobile gateway to Pi-native dApps and the Pi Wallet itself. It is available alongside the main Pi mining app and is required to use mainnet features.

Third-Party Exchange Wallets

Pi can be held on supporting centralized exchanges that have listed it. Note that holding Pi on an exchange means custody is with the exchange, not with you, and that exchange-supported balances depend on each exchange's deposit and withdrawal policies for the Pi blockchain.

Hardware Wallets

Hardware wallet support for Pi is limited compared to mature chains. Until broader integrations exist, the Pi Wallet protected by a securely backed-up passphrase is the recommended option for non-exchange storage.

Pi Network Resources

How to Buy Pi Network?

The most accessible way to obtain Pi is by mining it for free in the Pi mobile app. Pi has also been listed on a number of cryptocurrency exchanges since Open Mainnet launched:

Mining (Free)

Most Pioneers acquire Pi through the daily mining session in the official Pi app. There is no cost to mine other than time spent each day, although completing KYC is required to migrate balances to mainnet.

Centralized Exchanges

Pi has been listed on a subset of centralized exchanges including OKX, Bitget, MEXC, Gate.io, and HTX, with PI trading pairs typically against USDT. Some major exchanges (notably Binance) have not listed Pi at the time of writing. Liquidity, listing terms, and deposit/withdrawal availability vary considerably across venues.

Decentralized Exchanges

Native on-chain DEX activity for Pi remains thin, since the Pi mainnet ecosystem is still maturing. Most peer-to-peer activity involves Pi-native applications and consumer marketplaces using the Pi blockchain rather than wrapped representations.

If you choose to buy Pi rather than mine it, treat it as a relatively new and volatile asset and stick to reputable platforms.

Latest Pi Network News

The most important recent milestone for Pi Network is the launch of Open Mainnet on February 20, 2025, which ended the project's long Enclosed Mainnet period and allowed Pi to be transferred outside the network for the first time. Open Mainnet has been accompanied by listings on several centralized exchanges, the rollout of additional KYC and migration tooling, and the launch of new Pi-native consumer apps.

Throughout 2025 and into 2026, the Pi Core Team has continued to focus on KYC throughput, balance migration, ecosystem grants, and developer tooling. Pi's price has been highly volatile post-listing, reflecting both the project's enormous user base and lingering questions about long-term tokenomics, exchange support, and ecosystem demand. Pioneers and observers should watch official Pi Network channels for roadmap updates, KYC milestones, and new app launches that drive real Pi utility.